Germany to host reconstruction conference for Ukraine

In October, Germany will host an international conference in Berlin which will cover the organisation of Ukraine’s reconstruction following Russia’s invasion, according to a spokesperson. The conference will focus on rebuilding large parts of Ukraine’s infrastructure. Officials, who requested anonymity, spoke to Bloomberg about the event’s details. The event will be co-hosted by chancellor Olaf Scholz, the chair of the Group of Seven (G7), and Ursula von der Leyen, president of the European Commission. According to the officials, the preparations are still ongoing, and the date of the event may be subject to change. However, 25 October has been tentatively decided upon as the date where representatives from the European Union, G7 and international organisations will convene in Berlin. EU officials have said the 27-nation bloc, having formally accepted Ukraine as a candidate for membership in June, will provide the most overall financial assistance – surpassing €500b ($517b). However, there has not yet been an agreement on how to raise funds. Scholz told Bloomberg’s journalists on Thursday that the reconstruction package for Ukraine will be larger than the Marshall Plan, which helped rebuild western Europe after World War II. “The damage is dramatic, it will cost billions and will require the entire global community to develop reasonable solutions,” Scholz said to Bloomberg.